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Mortgage Rates Drop to 3.55%

  • August 22nd 2019

by UrbanTurf Staff

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Long-term mortgage rates keep heading south. 

On Thursday, Freddie Mac reported 3.55 percent with an average 0.5 point as the average for a 30-year mortgage, down 5 basis points from last week. Long-term rates remain at their lowest level in almost three years.

“The drop in mortgage rates continues to stimulate the real estate market and the economy," Freddie Mac's Sam Khater said in a release. "Home purchase demand is up five percent from a year ago and has noticeably strengthened since the early summer months, while refinances surged to their highest share in three and a half years. 

To get a sense as to how mortgage payments are changing as rates drop, check out this UrbanTurf article from last week. 

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage-rates-drop-to-355/15789.

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